A product supply agreement is an agreement between a supplier and a buyer for supply and purchase of products. The agreement specifies the terms upon which the parties agree to supply and purchase products from each other. Globalization has had a tremendous impact on trade and business all over the world. New products flood the market every year, and before a product reaches the public, it may pass through the hands of international manufacturers, distributors, retailers, or buyers. It has thus become increasingly important to make sure each party’s rights and responsibilities are established in the beginning of a business relationship.
This Website Purchase Agreement covers all of the critical points of a transaction including:
-Related Assets included in the sale (e.g. IP, Brand, Records, Third Party Agreements, Domains, Social Media)
-Payment provisions
-Pre and Post – Closing Obligations
-IP assignment
-Warranties
-Reciprocal indemnification provisions
-A non-compete clause
This is an Exclusive Distribution Contract, which falls in 35 pages. It has been developed by professional lawyers and implemented between a factory and a distributor overseas. The Contract consists of EIGHT Articles: Introduction; Recitals; Definitions; Mutual Non-Disclosure; Non-Circumvention; Duties & Rights of the Supplier; Duties and Rights of the Distributor; Order Procedures and Cancellation; Term; Termination; and Miscellaneous. Each article comprises several sections. For instance, Article IV, Duties; Rights of the Supplier, contains the following sections: Appointment of Distributor; Referrals; Training of the Distributor; Warranty; Price; Price Changes; Standards and Specifications; Packing; Delivery, Title; Risk of Loss; New Products; Products Coding System; Barcodes; and Remedies. It is important, however, that you consult your attorney before implementing this contract as is. There may be modifications or additions that need be made in accordance with your business type and the purpose of the Contract.